Equity market dips by N51bn

Investment in the nation’s equity market on Wednesday sustained bearish trend following losses recorded by some capitalised companies, with the market capitalisation dropping by N51 billion.

Specifically, market capitalisation of listed equities declined further by 0.38 per cent  to N13.507 trillion from N13.558 trillion reported on Tuesday.

The Nigerian Stock Exchange (NSE) All Share Index also depreciated by 102.31 basis points to 27718.26 points from 27820.57 reported the previous day.

Investors during the day exchanged 251.930 million shares worth N4.128 billion in 3937 deals against 155.213 million shares valued at N2.230 billion traded the previous day in 3192 deals.

A review of the transactions showed that Julius Berger led gainers table for the day, increasing by N1.85 kobo to close at N20.60 kobo, Forte Oil followed with a gain of N1.65 kobo to close at N19.65 kobo, Cement Company of Northern Nigeria added N0.35 kobo to close at N12.30 kobo, Access Bank Plc increased by N0.25 kobo to close at N6.55 kobo while Ecobank Transnational Incorporated grew by N0.20 kobo to close at N8.20 kobo.

Conversely, Nestle Nigeria Plc recorded the highest loss during the day, dropping by N29.50 kobo to close at N1270.00, Nigerian Breweries Plc trailed with a loss of N5.00 to close at N50.00, Dangote Sugar Refinery Nigeria Plc also sheds N1.00 to close at N9.80 kobo, Berger Paint Nigeria Plc down by N0.60 kobo to close at N5.70 kobo while Custodian and Investment Plc dipped by N0.55 kobo to close at N5.55 kobo.

The trading activities for the day indicated that Zenith Bank Plc was the toast of investors, accounting for 39.135 million shares valued at N718.838 million, FBNHoldings followed with account of 34.757 million shares worth N197.501 million, United Bank for Africa traded 27.692 million shares cost N163.688 million, Guaranty Trust Bank exchanged 23.503 million shares worth N667.636 million while Transnational Corporation of Nigeria (Transcorp) sold a total of 23.333 million shares valued at N22.143 million.

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